Published on 4/20/2016 in the Prospect News Private Placement Daily.
New Issue: AAC Holdings issues $5 million 12% senior notes to Deerfield Partners
By Lisa Kerner
Charlotte, N.C., April 20 – AAC Holdings, Inc. issued $5 million of 12% senior subordinated notes due 2020 on April 15, according to a form 8-K filed with the Securities and Exchange Commission.
The notes were issued in amounts of $2.5 million to Deerfield Private Design Fund III, LP, $1.4 million to Deerfield International Master Fund, LP and $1.1 million to Deerfield Partners, LP.
Proceeds will be used to fund AAC’s purchase of a 100-room hotel in Arlington, Texas, that the company expects to convert into sober living beds.
AAC is a Brentwood, Tenn.-based provider of inpatient substance abuse treatment services.
Issuer: | AAC Holdings, Inc.
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Issue: | Senior subordinated notes
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Amount: | $5 million
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Coupon: | 12%
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Maturity: | Oct. 2, 2020
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Purchasers: | Deerfield Private Design Fund III, LP ($2.5 million), Deerfield International Master Fund, LP ($1.4 million) and Deerfield Partners, LP ($1.1 million)
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Settlement: | April 15
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Distribution: | Private placement
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